Mark Physsas Architect Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 09102969 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2022

for

Mark Physsas Architect Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr M Physsas

REGISTERED OFFICE:

Suite 3

Falcon Court Business Centre

College Road

Maidstone

Kent

ME15 6TF

REGISTERED NUMBER:

09102969 (England and Wales)

ACCOUNTANTS:

Skyfire Accountancy Ltd

The Old Rectory

Springhead Road

Northfleet

Kent

DA11 8HN

FIXED ASSETS

Tangible assets

5

661

668

CURRENT ASSETS

Debtors

2,043

4,258

Cash at bank and in hand

29,434

68,544

31,477

72,802

CREDITORS

Amounts falling due within one year

46,682

66,056

NET CURRENT (LIABILITIES)/ASSETS

(15,205

)

6,746

TOTAL ASSETS LESS CURRENT LIABILITIES

(14,544

)

7,414

PROVISIONS FOR LIABILITIES

126

127

NET (LIABILITIES)/ASSETS

(14,670

)

7,287

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(14,770

)

7,187

SHAREHOLDERS' FUNDS

(14,670

)

7,287

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2022 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 June 2023 and were signed by:

Mr M Physsas - Director

1.	STATUTORY INFORMATION

Mark Physsas Architect Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Revenue recognition

Sales comprise the fair value of the consideration received or receivable for the rendering of services in the ordinary course of the company's activities. Sales are presented, net of value-added tax, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and when specific criteria have been met for each of the company's activities as follows:

Revenue from the sale of services is recognised at the point at which those services have been provided to the customer. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

20% on cost

Computer equipment

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2021

19,406

Additions

633

At 30 June 2022

20,039

DEPRECIATION

At 1 July 2021

18,738

Charge for year

640

At 30 June 2022

19,378

NET BOOK VALUE

At 30 June 2022

661

At 30 June 2021

668

6.	RELATED PARTY DISCLOSURES

During the period the company repaid £9,997 of a loan from a director. At the end of the period the amount owed to the director was £0 (2021 : £9,997). The loan was included within creditors due within one year, was free of interest and was repayable on demand.

During the period the company repaid £9,996 of a loan from a closely connected person to a director. At the end of the period the amount owed to them was £29,627 (2020: £39,593.52). The loan is included within creditors due within one year, was free of interest and was repayable on demand.

7.	COVID-19 BUSINESS SUPPORT

The company received £1,941 (2020: £5,632) in respect of claims made under the Coronavirus Job Retention Scheme. The claims were contingent on paying employees a minimum of 80% of their normal salary. No other conditions or contingencies have been applied to the claims.